Carlyle Group has hit a hard cap of $4.2bn (£2.7bn) for its latest US real estate fund.
The Carlyle Realty Partners VII fund, its seventh US real estate fund, will focus on opportunistic investments across the major metropolitan areas of the US.
Carlyle began raising for the fund in March 2014 with an initial target of $4.1bn. The previous funds have all invested in both residential and commercial real estate, primarily offices, industrial, data warehouses and retail assets.
Carlyle’s European business, which has agreed a deal for a 60,000 sq ft move to The Crown Estate’s and Oxford Properties’ St James’s Market, SW1, (pictured), is also raising capital for its $4bn Global Real Estate Fund, which will be its first fund for the European real estate markets since 2007.
